Well saying this is a market ‘tumble’ is really a stretch–but I have hoped for lower equity prices for a long time, so I take what little the market gives me. I would be happy seeing the DJIA down a few thousand points – but alas I doubt that will happen–too much money sloshing around.
I don’t buy common shares, but I know that the more the market stretches higher the steeper it will have to correct when the time arrives.
Interest rates are moving lower by 3-4 basis points–putting us smack dab into ‘goldilocks’ territory. I continue to believe rates will be moving higher through the year, but a pause or drift lower is always welcome.
Today I am doing nothing at all in the markets. I have spent the day doing some reading on Canadian Preferreds–very interesting with lots of folks chatting and discussing on the Canadian Discussion page. Just reading a bit makes me feel very inferior compared to the smart folks over on that page. I think in the near future I need to expand coverage of these Canadian issues (like I have time to do that!!).
I do have a couple more issues to highlight that I have bought recently–sure not investment grade issues, but I have to have some money deployed. I will write on them tomorrow.